HC Deb 19 April 1920 vol 128 cc149-51

Resolved, That—

  1. (a) for the purpose of Income Tax the amount of any income arising in or received from any British possession or territory under His Majesty's protection shall be taken to be the gross amount before deduction or payment of any Income Tax charged directly or indirectly in respect of 150 that income in the possession or territory; and
  2. (b) where under Rule 20 of the General Rules applicable to all the Schedules, a body of persons is entitled to deduct Income Tax from any dividend, the tax to be deducted shall in no case exceed the amount of the United Kingdom tax as reduced by the amount of any relief from that tax given in respect of Income Tax paid in a British possession or territory under His Majesty's protection.
And it is declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1913.

Excess Profits Duty.

Resolved, That—

  1. (a) Excess Profits Duty under Part III of the Finance (No. 2) Act, 1915, as amended or extended by any subsequent enactment, shall, unless Parliament otherwise determines, be charged for any accounting period ending on or after the fifth day of August, nineteen hundred and twenty, and before the fifth day of August, nineteen hundred and twenty-one; and
  2. (b)Excess Profits Duty shall be an amount equal to sixty per centum instead of forty per centum of the excess profits for any accounting period commencing on or after the first day of January, nineteen hundred and twenty, or, in the case of an accounting period which has commenced before that date but ends after that date, sixty per centum instead of forty per centum of so much of the excess" profits as are apportioned to the part of the period commencing on that date; and
  3. (c)the Excess Mineral Rights Duty under Section Forty-three of the Finance (No. 2) Act, 1915, as amended or extended by any subsequent enactment shall be an amount equal to sixty per centum instead of forty per centum of the excess rent for any accounting year commencing on or after the first day of January, nineteen hundred and twenty, or in the case of an accounting year which has commenced before that date but ends after that date sixty per centum instead of forty per centum of so much of the excess rent as is apportioned to the part of the year commencing on that date."

Corporation Profits Tax.

9.0 P.M.

Resolved, That there shall be charged on the profits or gains arising in any period of account which includes any time after the thirty-first day of December, nineteen hundred and nineteen, from any trade, manufacture, concern in the nature of trade, or business carried on in any place whatsoever by a corporate body incorporated by or under the laws of the United Kingdom, or carried on in the United Kingdom by a corporate body incorporated otherwise than as aforesaid, and on any income (other than any such profits or gains as aforesaid) accruing from sources in any place whatsoever in any such period of account as aforesaid to a corporate body incorporated by or under the laws of the United Kingdom, or any such income accruing from sources in the United Kingdom in any such period of account as aforesaid to a corporate body incorporated otherwise than as aforesaid, a tax of five per cent. of the profits, gains or income.

Mr. BALDWIN

I beg to move, "That the Chairman do report Progress, and ask leave to sit again."

I make this Motion in order that the last Resolution may to-morrow remain the first Order, upon which we may hang our discussion on the Budget, and in order that we may now proceed to the next business, which is the consideration of the Austrian Peace Treaty.

Question put, and agreed to.

Resolutions to be reported to-morrow; Committee report Progress; to sit again to-morrow.